Indian MNCs turn worldly wise

Vinod Mahanta & Seema Shukla, TNNJan 16, 2004, 12.08am IST

We were the first to tell you about Indian companies going on an international shopping spree and – excuse the habit – we insist on being the first to tell you about the coming of age of a world-class, cutting-edge, fiercely competitive giant: the Indian MNC.

In 1992, when management guru CK Prahalad first broached the topic, all he got in response was laughter. Even a few years ago, most would have reacted with the same amusement. The 'Indian MNC' was nothing more than a distant dream, if not a poor joke.

There were too many Indian companies that needed to clean up their domestic mess and had little or no scope of looking beyond India . The companies that tried venturing out were still searching for enough customers to make a global mark. But today Prahalad is having the last laugh!

Like our dear friend Prof Prahalad, we at CD have always believed in giving our readers a glimpse into the future. We were the first to sniff out the trail of a herd of Indian companies acquiring abroad. (Can Indian MNCs beat out American MNCs?)

At the time many rubbed their eyes in disbelief – again, many laughed – but the continual onslaught of the cash-rich Indian predator was enough to silence the doubting Thomases.